CMS sees 27% rise in earnings

CMS sees 27% rise in earnings
23 February 2018

Cahya Mata Sarawak Bhd (CMS), Malaysia, saw its earnings rise 27.2 per cent to MYR215.2m (US$55m) in the financial year ended 31 December 2017 from MYR169.2m in 2016 although earnings in 4Q17 were lower. Earnings related to the company’s four divisions: cement, construction and road maintenance, cosntruction materials and trading, and property development.

Total revenues in 2017 increased by 3.6 per cent YOY to MYR1.6bn from MYR1.55bn.

CMS also recorded a higher share of profit of MYR31.6m in 2017 from the results of its joint ventures in comparison to MYR23.3m in 2016. A profit of MYR43.5m was reported in 2017 from the share of results of its associates, representing a considerable improvement from a loss of MYR35.2m in 2016.

In its cement division reported a profit before tax of MYR101.3m in 2017, slipping from MYR105m in  2016. However, the Malaysian company said the division’s performance was supported by a new cement works in Mambong, improved operational and production efficiencies at the Pending and Bintulu plants as well as savings from lower coal and key raw material costs.

In the 4Q17 total earnings fell 35 per cent to MYR65.8m from MYR101.5m in the previous year. However, revenues advanced by 30.8 per cent YoY to MYR588.2m from MYR449.5m.

Published under Cement News